Draper Goren Holm, a blockchain startup incubator, has launched the first crypto decentralized exchange (DEX) plugin for WordPress, the leading website backend software.
New WordPress Plugin Allows Anyone to Launch a Decentralized Crypto Exchange https://t.co/4XXI8lRARj via @CoinTelegraph #cryptocurrency #bitcoin pic.twitter.com/L31PLOMYEz — Coinboard (@Coinboard) April 22, 2020
On April 22, it has been reported in an announcement that the plugin is “the easiest way for anyone, not just engineers, to launch their own cryptocurrency exchange.”
Tim Draper, the Founder of Draper Goren Holm and Venture capitalist, said:
“Everyone, not just engineers, can now launch their own crypto exchanges on WordPress using the plugin our team built.”
However, with the help of the plugin, websites can now feature an on-site DEX, which allows users to exchange between a long list of cryptocurrencies, tokens, and stablecoins. At the same time, the website owner can also earn fees for the service.
Image: PR Newswire
Likewise, the plugin’s backend uses the application programming interface (API) of decentralized finance (DeFi) aggregator, Totle.
It has been analyzed that by using this service’s API, the plugin searches for the best exchange prices in the DeFi ecosystem, and chooses accordingly which one to use.
Alon Goren, the founding partner of Draper Goren Holm, explained that WordPress was chosen because of its overwhelming popularity by saying:
“WordPress powers 35% of the web and is undeniably the easiest, most customizable solution for anyone to power their websites.”
Thus, the DeFi space is seeing notable developments at an increasing rate.